Understanding your
Experian Credit Report
and Experian Credit Score
Understanding your
Experian Credit Report and Experian Credit Score
2
Contents
Please read this first����������������������������������������������������������������������������������������������������������������������������������������������������������������� 4
Seeing your information����������������������������������������������������������������������������������������������������������������������������������������������������������� 6
Information held on your credit report����������������������������������������������������������������������������������������������������������������������������������� 7
The electoral roll ����������������������������������������������������������������������������������������������������������������������������������������������������������7
Aliases ���������������������������������������������������������������������������������������������������������������������������������������������������������������������������8
Associations �����������������������������������������������������������������������������������������������������������������������������������������������������������������9
Credit account information ��������������������������������������������������������������������������������������������������������������������������������������12
Current account information ����������������������������������������������������������������������������������������������������������������������������������� 21
Previous searches �����������������������������������������������������������������������������������������������������������������������������������������������������22
Financial associate searches �����������������������������������������������������������������������������������������������������������������������������������24
GAIN information ������������������������������������������������������������������������������������������������������������������������������������������������������25
Cifas information �������������������������������������������������������������������������������������������������������������������������������������������������������26
Notices of Correction ������������������������������������������������������������������������������������������������������������������������������������������������27
Your Experian Credit Score���������������������������������������������������������������������������������������������������������������������������������������������������� 27
Information about other people ������������������������������������������������������������������������������������������������������������������������������28
Improving your Experian Credit Report and your Experian Credit Score ���������������������������������������������������������29
Identity fraud���������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 29
Contacting Us�������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 30
Your Rights������������������������������������������������������������������������������������������������������������������������������������������������������������������������������� 31
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This guide explains the information in your Experian Credit Report and Experian Credit Score. It also tells you how
to change any details you think need updating. A list of useful addresses is included at the end.
Your Experian Credit Report includes your name, address and date of birth, plus any other names you have told us
you have been known by and any addresses you say you have lived at in the last six years.
If you want an updated copy of your credit report, the easiest way to see it is to visit our website at
https://creditexpert.co.uk
Understanding your
Experian Credit Report and Experian Credit Score
4
Please read this first
What is a credit score?
A lender may use the information on your credit report, along with the information you provide on an application
form, to give you a credit score. The lender will use this credit score to assess the risk of offering you credit.
The previous occupants of your address cannot affect your credit score. Also, credit scores do not take account of
your sex, religion, race, political beliefs, sexuality or criminal record.
Can I find out my credit score?
You do not have a single credit score or rating. Different organisations take different information into account when
working out your credit score and may use different formulas for different products, which means you could get
different scores from the same lender if you apply for two different loans.
Lenders do not have to tell you exactly how they work out their credit scores but should give you a basic
explanation of how their scoring works and tell you whether your application has been refused because of your
credit score or because of information held on your credit report.
Your Experian Credit Score is based only on your Experian Credit Report. Although lenders are likely to use other
information (such as details of your job or wages) when they work out your credit score, your Experian Credit Score
is a good guide to how your credit report will affect your chances of getting credit.
For more information, see page 27 of this booklet or visit https://creditexpert.co.uk
Why was I turned down for credit?
The lender you applied to made this decision and is the only one who can say why. You may have been refused
because of information on your credit report or as a result of other information they have, such as the information
you gave on your application form.
Lenders should give clear explanations about why they refuse credit and they should tell you if their decision was
based on:
•
•
•
•
Information on your credit report
Other information you gave them
Other information they hold about you as a customer
Their policies on providing credit
Am I on a blacklist?
No, there is no such thing as a credit blacklist. Credit reference agencies, such as Experian, only hold facts about
people. This is taken from public records, or is provided by lenders or the person themselves.
Does making several applications for credit reduce my chances of getting credit in the future?
Making several applications for credit over a short period of time can influence a lender’s decision.
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If you are shopping around for the best deal, you should ask for a quotation, rather than applying for credit. Asking
for a quotation should not affect your chances of getting credit in the future. For most types of credit, lenders do not
have to search your credit report to give you a quotation. If the cost of the credit deal depends on your credit score,
the lender may need to search your credit report. In this case, the lender should make a quotation search that
should not leave a trace visible to other lenders on your report. If an organisation gives you a quotation, this is not
an agreement to offer you credit.
If you need to know whether you will get the credit – for example, a loan – you will need to apply. The lender should
tell you if they are going to search your credit report and what sort of search they will make. If one lender turns
down your application, it is best to find out why you have been turned down before you contact other lenders.
If one organisation has turned me down for credit, will others do the same?
Not necessarily. Different organisations take different things into account when deciding whether to accept you
for credit. If a lender turns down your application, get a copy of your credit report before you make any further
applications.
If you make several applications over a short period of time, lenders may think you are too reliant on credit, or even
that a fraudster is using your details. So find out why you’ve been refused before applying to
another lender.
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Understanding your
Experian Credit Report and Experian Credit Score
Seeing your information
Can anyone search my report?
No, in normal circumstances searches can only be made with your permission. You usually give this permission
when you apply for credit.
How do you keep my information safe?
We take protecting your data very seriously. We process the information we hold in line with the Data Protection
Act 1998. We screen our employees carefully and our premises are secure. We constantly review how we can
protect our information and our reputation for maintaining privacy. We are also monitored by the Information
Commissioner’s Office.
Can anyone see my credit information?
No, credit information is private. Only organisations who are members of our information-sharing scheme can see
credit information. They can normally only look at your credit information if you have given them permission. They
usually ask for this on the application form you fill in.
Our information-sharing scheme is strictly regulated. Lenders can see only information similar to that which they
give us and they must follow strict rules that clearly list what they can use the information for.
What about information that is available to the public, such as court judgments or the electoral roll?
Again, this information is only provided to legitimate organisations for certain limited purposes, usually with
your permission.
How do I know who has seen information about me?
When an organisation checks or searches your information on our database, we keep a record or ‘footprint’. These
records show your personal information, why and when. We keep these records for one year. We keep records
of searches for your information and to help lenders process credit applications. They also help to prevent fraud.
Checks that are not recorded show you that an organisation has looked at your report for a purpose not related to
credit, such as checking your identity. As a result, they do not affect your credit score. These checks are not shown
to other lenders.
Can I prevent you from holding information about me?
We have a legal right to hold information about people. Credit reference agencies help lenders to process credit
applications and make it easier for you to get credit.
Who regulates your work?
We are authorised and regulated by the Financial Conduct Authority. We are also registered with the Information
Commissioner’s Office.
How do I complain?
If you would like a copy of our ‘Complaints procedure’, please go to www.experian.co.uk/consumer/contact-us/
or email us complaints@uk.experian.com or phone us on 0344 481 8197.
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Information held on your credit report
Application details
The first section of your credit report includes your name, address and date of birth. It will also include any other
names you have told us you have been known by, any addresses you say you have lived at in the last six years,
and other people you are linked to. If you want an updated copy of your credit report, the quickest way to apply is
by visiting our website at www.experian.co.uk
The electoral roll
Information on the electoral roll helps lenders to confirm your name and address quickly. It means they can
check that you live at the address you give on your application form and helps them to prevent fraud and money
laundering by checking that your address is correct. The address shown on the electoral roll is the version used by
your local authority.
The electoral roll shows when you have been registered to vote in elections. This will not always be the exact dates
when you lived at an address. On your credit report, the information from the electoral roll will show the name of
your local authority, the address the local authority holds for you, or held in the past, and the dates you
were registered.
Here is an example of an entry in a Experian Credit Report:
Are you on the Electoral Roll?
You are on the Electoral Roll
Being on the Electoral Roll makes it easier for banks and
financial institutions to confirm your identity.
Electoral Roll: Not being registered on the Electoral Roll decreases your credit score
Registered Addresses
Entry number
E1
Period
October 2006 - Current register
Address
1 Main Road, Anytown, 123 ABC
Registered on Electoral Roll
Is this data incorrect?
Registered as
MR Name
Registered with Council
It's great that you've registered your most current address to
the Electoral Roll as it increases the accuracy of your report
You've recently registered to the Electoral Roll.
Find out if you can get new credit now
There is a data dispute on your account (reference Y1).
View Data Dispute.
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Understanding your
Experian Credit Report and Experian Credit Score
What can I do if my credit report shows that I am not on the electoral roll?
Lenders will usually consider information on the electoral roll at current and previous addresses when making
a decision. Any monthly updates your council makes to the electoral roll will be updated on our records. If you
recently registered on the electoral roll, we may still be updating our records.
How do I get on the electoral roll?
If you want to add your name to the electoral roll at your present address you should contact your local authority
and ask for a registration form. To register you need to be a British, or other Commonwealth, Irish or European
citizen and be 18 or over (although if you will be 18 soon you may be eligible to register). Each year, usually in
the autumn, local authorities contact all the homes in their area to update the electoral roll. However, this doesn’t
happen in Northern Ireland, so if you live there you need to contact your local area electoral office whenever your
details change.
Can I be added to the electoral roll if I have recently moved?
Yes. If you recently moved, ask your local authority to add your name to the electoral roll at your new address.
During the course of the year they will tell us about changes they have made to the electoral roll. You should also
remember to cancel any registration at your previous address.
What should I do if I don’t agree with the electoral roll information on my report?
If you have registered recently, we are probably in the process of updating our records. If you think your report does
not show what is on the electoral roll, please contact us. The details of how to do so are shown on page 30.
If you think the electoral roll is wrong, contact your local authority. If you’ve already done this and the local authority
has sent you a letter to confirm that they have altered the electoral roll, send a copy of this letter to all the credit
reference agencies. They will then update their records if appropriate.
Could I be turned down for credit because my name isn’t on the electoral roll?
Yes, but it’s up to the lender. If there is other evidence on your credit report that helps them check your name and
address, they may use that. But it is always sensible to be registered to vote at your current address if you are
entitled to vote.
Aliases
An alias is any other name you are, or have been, known by. Any financial information in these other names is
shown on your report. We get the information we have about your other names from the information lenders
provide or from public records. We keep a record of where the information came from. If you disagree with the
information we hold, or if you need help, please contact us.
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Here is an example of an entry in a Experian Credit Report:
Your aliases:
Is this data incorrect?
1 aliases were found
Entry number: L6
Name
Address
Date of birth
Source
Alias Details
Also known as
MR Jonh Smith
1 main road,
Any t own, 123 ABC
DD/MM/YYYY
Date
DD/MM/ 2013
Date of birth
DD/MM/ 2013
Confirmed By
Company
MR JONH JAY SMITH
EXPERIAN CONSUMER SERVICES
Associations
A record of an association shows a financial link you have with another person. These links are created by joint
judgments, joint accounts and joint credit applications, or from information you gave to us or lenders. Associations
are not created between business partners. The information you see will include the details of the person you are
financially connected to (the associate), the name of the organisation that created the link, and the date the link
was created. Information about an association is held on record indefinitely. Lenders can take account of your
associate’s financial information when deciding whether to give you credit. The financial information about any
associates is not recorded on your credit report. If your associate needs to see their credit report, they will need to
apply separately.
Here is an example of an entry in a Experian Credit Report
Your financial associations:
(Date of birth DD/MM/YYYY)
MRS MARY SMITH
Your details relating to this association:
Address
Name
Date of birth
1 main road,
Any t own, 123 ABC
MR Jonh Smith
DD/MM/YYYY
Your association with MRS MARY SMITH
Date
Confirmed by
DD/MM/YYYY
Company
1 record found
Understanding your
Experian Credit Report and Experian Credit Score
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I am no longer linked to the person my report says I am associated with – what should I do?
Please contact us and explain the situation. We may ask you for further information but, if you are no longer
associated, we will be able to break the link between you. See page 30 for details of how to get in touch.
I disagree with an association recorded on my report – what should I do?
The quickest way to get information corrected is to contact the source of that information. If the information was
provided by a lender, contact them first.
Why doesn’t my associate’s financial information appear on my report?
We provide your Experian Credit Report under Section 7 of the Data Protection Act 1998. Under this law, we must
give you any information we hold about you – and only about you. However, it is worth asking the person you’re
associated with to get their report so you can check all the information a lender may have when making a decision
about giving you credit.
Court judgments, bankruptcies and voluntary arrangements
A court judgment on your report shows that you have been taken to court for not paying money you owe. We hold
court judgments on our records for six years. We get the information from Registry Trust Ltd, an independent
organisation set up under the control of the Ministry of Justice.
If you believe a court judgment recorded on your credit report is wrong, contact the court, quoting the case number
included on your report. If you pay the amount of the judgment within one month, we remove it from our records.
If you pay the judgment after one month, it will stay on our records for six years but it should be shown as being
settled. If a judgment was recorded against two people, it will say so on your credit report.
Here is an example of an entry in a Experian Credit Report:
Have you got any CCJ, Bankruptcy, or IVA
records?
You have no CCJs, Bankruptcies or IVAs
These may decrease your credit score for at least 6 years.
Bankruptcy, County Court Judgments and IVAs: These will decrease your credit score for up to 6 years.
Public Information records include things like Bankruptcy or county court orders for when credit agreements have been broken.
You have 1 record
Is this data incorrect?
Entry number: J1
Record Details
Court
Date
CITY COUNTY COURT
Address
1 main road,
Case Number
Amount
Any to wn, 123 ABC
9BA69574
Information type
Note
Registry Source
Judgment
Any note about the case
Discharged
£5,600.00
Information Source
23 Jun 2013
23 Jun 2014
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We get information on bankruptcies in England, Wales and Northern Ireland from the Insolvency Service. We
get information on Scottish bankruptcies (known as sequestrations) from the Accountant in Bankruptcy. If your
bankruptcy order ends, the Insolvency Service should tell us. You can also send us a copy of your discharge
certificate or letter from the Official Receiver and we will update our records. A bankruptcy order will appear on your
credit report for at least six years, even if it ends. However, if the bankruptcy order is withdrawn, you should send
us a copy of the annulment certificate and we will remove the bankruptcy from your report.
The Insolvency Service also sends us details of bankruptcy restrictions orders. If you are bankrupt, the court may
make a bankruptcy restrictions order against you if it decides you have been dishonest or are in some way to
blame for your bankruptcy. We hold these records for as long as the court order lasts, which can be up to 15 years.
A voluntary arrangement is a formal arrangement made through the court to pay an agreed amount off your debts.
If you have any questions about a voluntary arrangement recorded on your credit report, contact the person who
dealt with that arrangement (usually an insolvency practitioner).
If the arrangement has ended, send us the relevant documents to confirm this and we will update our records.
We keep records of voluntary arrangements for at least six years. See page 30 for details of how to contact
us. Voluntary arrangements do not apply in Scotland, but we do hold details of Scottish Trust Deeds which are
very similar. We also hold records of debt payment programmes arranged under the Scottish Debt Arrangement
Scheme.
I have a judgment on my credit report. Can I tell who took me to court?
The only information we have on judgments is shown on your report. If you have further questions, contact the
court concerned, quoting the case number shown on your report.
I have paid this court judgment, why does it show as unpaid?
If you live in England or Wales, you should contact the court concerned. Once they know that the judgment has
been paid, they should tell us and we will update our records. If you need proof of payment, you may need to ask
the court for a certificate of satisfaction. This will cost £15. If you apply to the court by post, make sure you include
a cheque, made payable to Her Majesty’s Court Service (HMCS), for the fee of £15.
If you live in Scotland, send Registry Trust Ltd (RTL) a receipt or a letter from the person you paid to confirm your
payment. You should send RTL a cheque for £4 to cover their search fee.
Understanding your
Experian Credit Report and Experian Credit Score
12
Credit account information
The UK’s major lenders have agreed to share details of their customers’
credit agreements.
They do this by storing the details with one or more of the three credit reference agencies. When you
apply for credit, you give the lender permission to check how you have repaid other lenders in the past
few years. This helps them to decide whether you can afford to take on the new credit and whether
you are likely to keep up repayments.
The credit account information belongs to the lenders who store the information with the credit reference agencies.
Credit reference agencies cannot change these details without the particular lenders’ permission. Each month,
lenders update the credit account information they store with us.
How do lenders use credit account information?
The credit account information is used to check how you have repaid credit in the recent past and how you are
managing your credit at the moment. Most lenders provide information throughout the life of every account. Some
lenders will only provide information on accounts where customers have failed to keep to the terms of their credit
agreement – these accounts are known as being in default. Lenders provide credit account information to us each
month. Many lenders can go online to see and amend the information we hold for them. If you think any of the
information is wrong, the quickest way to have it altered or updated is to contact the relevant lender.
Can anyone see information about my credit agreements?
No, credit information is private. Only organisations who are members of our information-sharing scheme can see
the information we hold. They can normally look at your credit account information only if you have given your
permission for the information to be shared. You usually give your permission on your application, over the phone
or online, if this is how you applied for credit. Our information-sharing scheme is carefully regulated by the lender’s
contract with us, by the law, and by strict rules drawn up by the lenders who share information. These rules clearly
list how they can use the information. For example, they are not allowed to use it to target marketing offers.
I am having problems keeping up with repayments. What should I do?
You should let the lender know immediately. If you explain the circumstances, most lenders will be happy to agree
for you to make reduced payments until the situation improves. The lender may add a ‘marker’ to your credit report
to show your arrangement. The status history on the account will probably show that your payments have fallen
behind in relation to your original agreement.
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You can also ask us to add a statement to your report if you want to explain the circumstances surrounding arrears
or late payments. If you would like independent advice on dealing with debt, there are a number of organisations
who can help. See page 30 for more information.
I do not recognise the name of this organisation. What should I do?
Contact them at the address shown in the useful addresses section of your report. Some shops use large finance
organisations to manage their store cards. Some credit cards may not be recorded on your report exactly as you
might expect. To check, contact the organisation and find out what agreement it relates to. If, after you’ve contacted
the lender, you are sure you do not own the account, tell them and contact us immediately. See page 30 for details
of how to get in touch with us.
Why don’t some of my credit accounts appear on my credit report?
The organisations you have accounts with have not provided us with information. Some organisations may only
provide details of accounts money is owed to. If you have not fallen behind with your payments, this may explain
why we do not hold information on the account. Or the organisation in question may not provide account details
to us.
Understanding your
Experian Credit Report and Experian Credit Score
14
What do the status codes mean?
Every credit account includes a list of ‘status codes’. These show whether you have made your credit repayments
over the past six years (72 months). The last 12 months’ payments are shown in full (the most recent is shown
first). Underneath the status codes is a summary of payments, unless the status code shown is 8 (which is a
‘default’, where you have broken the terms of your account). The table below explains what the status codes shown
in your status history mean. The code shown against settled accounts relates to the period before these accounts
were settled.
0
Payments are up to date
1
Payments are up to 1 month late
2
Payments are up to 2 months late
3
Payments are up to 3 months late
4
Payments are up to 4 months late
5
Payments are up to 5 months late
6
Payments are 6 months or more late
D
The account is not being used and nothing is owed. The lender has not been able to provide information on the
payment history for this month.
U
The lender cannot give the account a status code for this month. This may be at the start of the credit agreement
when the lender is allowing time for the account to be set up, when you are waiting for goods to be delivered,
when you have received the goods but payment is not due to start immediately, when there is a dispute over the
payments due or the goods received, or when the account is not being used. An active account is one that is still
open. We keep a record of active accounts until they are settled and then for six years afterwards.
I do not agree with a status code shown. What should I do?
Contact the lender. You can find their address in the useful addresses section of your report. If you have any
problems, contact us and we will contact the lender on your behalf. See page 30 for details of how to get in touch
with us. An active account is one that is still open. We keep a record of active accounts until they are settled, and
then for six years afterwards.
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Here is an example of an active account on a Experian Credit Report:
The total balance of your 3 credit accounts (excluding mortgages) is £2,800
Lender
Type
Current statusB
Credit CardU
MyBank
alance
p to date
£200
Updated
DD/MM/YYYY
If you have incorrect details on your report contact MyBank
Entry number: C1
Name
Address
Date of birth
Account started
Credit limit
MR Jonh Smith
1 main road,
DD/MM/ 2013
£5000
Any to wn, 123 ABC
DD/MM/YYYY
Experian expect to receive your credit account information from lenders every 4-6 weeks. If you have recently made a payment
or missed a payment, it may not be reflected in the status details below.
1 - 12 Months
Key
Last updated: DD/MM/YYYY
Payment status
Balance (£)
200
300
120
250
A settled account is one that you have made all the necessary payments to and has been closed. We keep a
record of settled accounts for six years from the date they were settled. The status codes shown on your credit
report against a settled account refer to the period before you settled the account.
Understanding your
Experian Credit Report and Experian Credit Score
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Here is an example of a settled account on a Experian Credit Report:
Previous closed accounts (settled accounts)
Lender
PhoneCo.
Type
Current statusB
Communications
Closed
alance
£0
Updated
DD/MM/YYYY
If you have incorrect details on your report contact PhoneCo.
Entry number: C3
Account started
DD/MM/YYYY
Name
Settlement Date
DD/MM/YYYY
Address
Date of birth
MR Jonh Smith
1 main road,
Any to wn, 123 ABC
DD/MM/YYYY
Experian expect to receive your credit account information from lenders every 4-6 weeks. If you have recently made a payment
or missed a payment, it may not be reflected in the status details below.
1 - 12 Months
13 - 24 Months
Key
Payment status
Balance (£)
50
50
54
50
50
50
54
50
50
50
54
50
24 - 36 Months
Closed accounts are kept on file for six years from the date of closure. The status history in respect of a closed account relates
to the period of time prior to the date of closure.
An account is in default when you have not been able to keep to the terms of a credit agreement. We keep a record
of these accounts for six years from the date the lender decided you had broken the terms of the agreement. The
lender should have told you that they were registering the account as a default. The details about that account will
show how much money you owed on the date when the agreement was broken (the defaulted date) and how much
money you now owe. It will reflect any payments you have made to the organisation since the agreement was
broken. When the account is paid in full, the information will be updated to read Current Balance: Satisfied’ with a
‘Satisfaction Date’.
17
Here is an example of an account in default on a Experian Credit Report:
The total balance of your 3 credit accounts (excluding mortgages) is £2,800
Lender
Type
Current statusB
Credit CardD
MyBank
alance
efault
£200
Updated
DD/MM/YYYY
If you have incorrect details on your report contact MyBank
Entry number: C1
Name
Address
Date of birth
Account started
Credit limit
MR Jonh Smith
1 main road,
DD/MM/ 2013
£0
Any to wn, 123 ABC
DD/MM/YYYY
Experian expect to receive your credit account information from lenders every 4-6 weeks. If you have recently made a payment
or missed a payment, it may not be reflected in the status details below.
1 - 12 Months
Key
Last updated: DD/MM/YYYY
Payment status
Balance (£)
50
6
5
4
3
2
1
50
54
50
50
50
54
50
50
50
54
50
The following information may also be included with account details on your report:
Gone away
The lender has reported that you no longer live at the address you gave and have not given them a new address.
Debt assigned
The lender has reported that they sold the debt to an organisation which is not a member of our information-sharing
scheme. We will keep the record in the original lender’s name and show it as closed.
Deceased
We have been told that the account holder has passed away.
Recourse
The lender has reported that the account has been transferred to the dealer or retailer who introduced you to the
credit agreement.
Voluntary termination
The lender has reported that the account has been closed under Section 99 of the Consumer Credit Act 1974. This
relates to hire-purchase and condition-sale agreements (credit used to buy a car or other vehicle) and allows you to
return the car and owe nothing once you have repaid half of the total price.
Understanding your
Experian Credit Report and Experian Credit Score
18
Arrangement
The lender has agreed to vary your payments for a time.
Debt management programme
The lender has reported that the account has been included in a debt-management programme (for example, one
organised by a citizens advice bureau, National Debtline or StepChange.
Account query
The lender has reported that you have questioned how accurate the information is.
Joint account
This shows that the account is or has been jointly held with another person. The name of the person you share an
active joint account with will be shown in the ‘Associations’ section of your report. See page 9 for more information
on financial associates.
Credit protection insurance claim
You have made a claim against your credit-protection insurance.
Partial settlement
The lender has reported that one of the following:
•
•
•
•
The debt was included in a voluntary arrangement which has now ended
The debt was included in a bankruptcy order which has now been discharged
The lender has accepted a smaller amount in full and final settlement
The lender has repossessed the asset and is no longer chasing the debt
Debt assigned to CAIS member
The lender has sold the debt to another member of our information-sharing scheme. The old account will have
been closed and a new active account will show in the name of the lender who has bought the debt.
Phone live/ disconnected/ barred
This may appear next to a mobile phone account and shows whether the phone is live (active), disconnected (no
longer active) or barred.
Transferred to Collection Account
The lender has closed the account and the debt has been transferred to another account.
Credit account information with account management details
Some providers of credit cards and store cards may provide extra information on how you manage your account.
This includes details such as the balance shown on your statement each month, the amount you repaid each
month, and the number and value of cash advances (withdrawals) you made each month. If we hold this extra
information, the account details will be shown in a separate section of your report called ‘your credit accounts’ with
account management details.
See next page for an example of one of these entries:
19
The total balance of your 3 credit accounts (excluding mortgages) is £2,800
Lender
Type
Current statusB
Credit CardU
MyBank
alance
p to date
£200
Updated
DD/MM/YYYY
If you have incorrect details on your report contact MyBank
Entry number: C1
Name
Address
Date of birth
Account started
Credit limit
MR Jonh Smith
1 main road,
DD/MM/ 2013
£5000
Any t own, 123 ABC
DD/MM/YYYY
Experian expect to receive your credit account information from lenders every 4-6 weeks. If you have recently made a payment
or missed a payment, it may not be reflected in the status details below.
1 - 12 Months
13 - 24 Months
24 - 36 Months
Key
Last updated: DD/MM/YYYY
Payment status
50
50
54
50
50
50
54
50
50
50
54
50
Payment Amount
200
189
199
219
178
150
182
178
271
154
154
150
Previous Balance
250
350
154
250
450
250
354
350
350
250
154
150
Balance (£)
More details
No. of Cash Advances
00
Cash Advance Amount
50
Payment code
MM
00
52
58
00
45
MM
60
00
35
MM
34
00
25
MM
40
00
45
MM
54
51
MM
Promotional rate
Credit Limit History
Date (mm/yy)
Credit Limit
mm/yy
mm/yy
150
150
mm/yy mm/yy
154
150
mm/yy
mm/yy
150
150
mm/yy mm/yy
154
150
mm/yy
mm/yy
150
150
mm/yy mm/yy
154
150
Understanding your
Experian Credit Report and Experian Credit Score
20
The first part of the record contains similar information to that shown for all other credit accounts. This information
is explained in more detail from page 12 of this booklet.
The table on this page shows how the account has been used and repaid each month. Each column shows the
information the lender sent to us for a particular month, with the most recent information shown on the left hand
column and the oldest information on the right. Information for up to 24 months may be shown. The terms used in
the table are explained below.
The payment code and promotional rate indicator will only contain a value under certain circumstances (see
the explanations below). If other columns or areas are blank, this indicates that the lender has not provided this
information for that month.
Status code
Balance
The status codes are the same for all credit accounts (see page 14). You should
read the status code history from left (most recent) to right (oldest).
This is the balance of the acccount at the time the lender last updated the
information.
Payment amount
This is the total amount paid off your last statement.
Previous
This is the total ‘outstanding balance” (amount owed) shown on your last
statement balance
statement.
Cash Advances
This is the total number of cash withdrawals that you made using your card since
(Number)
the lender last updated the information.
Cash Advances
This is the total value of the cash withdrawals you made using the your card since
(Amount)
the lender last updated the information.
Payment code
Promotional rate
indicator
An ‘M’ shows that the amount you paid in response to your last statement was
equal to the minimum payment, no letter will be shown.
An ‘Y’ shows that a promotional offer (such as a period of interest-free credit)
applied to some or part of the balance on your account when the lender last
updated the information.
The final part of the record shows past changes to the credit limit of this account. Up to twelve changes may be displayed, with the current limit
on the left and the oldest change on the right. Each credit limit change shows the date of the change and the previous credit limit.
21
Current account information
How are status codes used on current accounts?
The status codes lenders use on current accounts can have a different meaning to those used on other accounts.
This is because current accounts are more flexible than other types of credit. For example, you may not have
to repay your overdraft at a set rate each month. The information on your credit report shows the status of your
account when the lender last updated our records.
0
• Your account is not overdrawn.
• Your account is overdrawn but you are managing your account within the terms of your
agreement.
1
• Agreed repayments are one to two months behind.
• Your overdraft balance has been greater your overdraft limit for one to two months.
• Cheques, direct debits and standing orders may have been bounced to keep the account in
order.
2
• Agreed repayments are two to three months behind.
• Your overdraft balance has been greater than your overdraft limit for two to three months
• Cheques, direct debits and standing orders may have been bounced for a second month to keep
the account in order.
3
• Agreed repayments are more than three months behind
• Your overdraft balance has been greater than your overdraft limit for two to three monthsw
• Cheques, direct debits and standing orders may have been bounced for a third month to keep
the account in order.
4-6
• Agreed repayments are more than three months behind but you have agreed new repayments
with the lender to bring the account in order.
8
• Your overdraft balance has been greater than your overdraft limit for more than three months and
you have not agreed new repayments to bring the account in order.
• The lender has decided that you have broken the terms of your agreement and has told you that
your account is now in ‘default’.
• The lender has closed your account.
U
• Your account has just been opened.
• Your account is more than three months old, has a zero balance and has not been used in the
last month.
Understanding your
Experian Credit Report and Experian Credit Score
22
What is my overdraft limit?
Your overdraft limit is the largest overdraft the lender has agreed you can have.
What is my ‘overdraft balance’?
Your overdraft balance shows how much your account is overdrawn by. Your credit report does not show how much
money you have in your current account, so if you are in credit and have no overdraft your report will show that
your balance is zero. Some banks only show overdraft balances that are more than a certain amount. If your bank
does this and your overdraft balance is below this amount, your credit report will show that your balance is zero. If
your overdraft balance is higher than your overdraft limit, the lender might use status codes to show that you are
outside the terms of your agreement.
Previous searches
A previous search is a record that an organisation has looked at your credit report to check your identity or to
assess an application you have made for credit. We hold records of previous searches on your credit report for
12 months. A lender must always get your permission to look at your credit report.
Previous searches are also known as ‘footprints’ and can help lenders to spot any unusual credit activity, such as
you applying for a worrying amount of credit or someone else attempting fraud. We can only delete the record of
a search with the permission of the organisation that made it. If you are concerned about the accuracy of a search
record, please contact the organisation that carried out the search.
If you asked the organisation for a quote rather than applying for credit, this should be shown on the search record.
These records are called ‘quotation searches’ and lenders will know that they don’t represent credit applications.
Quotes can be given for credit cards, insurance, personal loans, mortgages, store cards, or bills.
Here is an example of a previous search on a Experian Credit Report
Full search details:
Date
Search ByI
Mortgages.co
DD/MM/YYYY
Entry number: P4
Application
type
Amount
Term
mpact
Credit Card
£60,000
Term months
No impact on score
Name
Date of birth
Address
Length at this address
MR Jonh Smith
DD/MM/YYYY
1 main road,
Any to wn, 123 ABC
04 years 00 months
23
What is an unrecorded enquiry?
An unrecorded enquiry is a search that was not made for lending purposes. It can’t affect your credit score when
you apply for credit. It is not seen by lenders other than the one that carried out the search. It is included on your
credit report so you know the search was made but doesn’t affect your credit score, when you apply for credit.
Does shopping around for the best deal leave a lot of credit searches on my credit report?
It shouldn’t. A credit search should only be carried out after you apply for credit. When you shop around, you will
usually get basic details of offers from a range of lenders, then apply to the lender you think is offering the best
deal. Lenders should always tell you if they are carrying out a credit reference check. They should also tell you if
they are going to store credit account information with any credit reference agencies.
There is more advice about shopping around and credit searches on page 6 of this booklet.
What do I do if there is a search on my report that I know nothing about?
Contact the lender who made the search. If the lender agrees to remove a search, they will tell us.
The search may have been made by a company that provides credit on behalf of the company you dealt with.
Why have you carried out a search on me?
We will keep a record of you asking for your credit report. This will show the information you gave us on your
application. This information is seen only by you and us. It allows you to see when you asked for your report.
Lenders cannot see this information when searching your report.
24
Understanding your
Experian Credit Report and Experian Credit Score
Financial associate searches
A financial associate search will be shown on your report when someone you are financially linked to has applied
for credit and a lender has looked at your credit report as a result. It does not mean that you have applied for credit
or that the application was for joint finances. The record will show that your information was used because you are
financially linked to the person who applied.
Why do the financial associate’s details appear?
If you have a financial link with another person – an associate – a lender can use the associate’s information to
help make their decision when you apply for credit. This is because their finances can often affect your ability to
manage a credit agreement.
Why does my associate’s financial information not appear on my report?
We can only give you the information we hold about you. This does not include information that relates to your
associate.
I am no longer linked to this person – what should I do?
Please contact us and explain the situation. We may ask you for more information. If you are no longer connected,
we will be able to break the link between you. See page 30 for details of how to get in touch with us.
How can I see my associate’s information?
You can’t. Your associate is the only person who can get a copy of their credit report. It is up to your associate
whether they want to show you their credit report, just as it is up to you who you share your report with.
25
Why are other addresses shown on my report?
Lenders may take account of information that is recorded at addresses you have lived at or been linked to in the
recent past. It is possible that information relating to these addresses is relevant to an application.
How is a link to an address created?
A link is created when you tell a lender that you have changed address or when a lender receives a credit
application that includes more than one address. Links can also be created as a result of information
you give to us.
I have never lived at one of the linked addresses shown. Can it be removed?
An address may appear on your report because you have had a financial connection with that address, although
you may have never lived there. If you have not had any connection with an address that is listed, contact us and
we will get in touch with the organisation who provided us with the information. We will then delete the address, if
appropriate.
Why have you created a link with another address?
We have used the information provided on your application for a credit report to link you to your previous
addresses. This gives lenders a more complete picture of your credit history. You gave your permission for us to
add this information when you made the application.
GAIN information
We are members of GAIN, a network through which lenders share information on customers with debts who have
moved home without giving a new address. The information may include the address the customer moved from
and any address the customer has since been recorded at.
Here is an example of GAIN information in a Experian Credit Report
Your GAIN records :
Is this data incorrect?
1 records have been found
Entry number: G1
Name
Date of birth
Address
Record Details
MR Jonh Smith
DD/MM/YYYY
1 main road,
Any to wn, 123 ABC
Date
DD/MM/ 2013
Reference
DD/MM/ 2013
Located by
BANK LIMITED
Understanding your
Experian Credit Report and Experian Credit Score
26
What should I do if I think GAIN information on my report is wrong?
Contact the organisation who provided the information and ask them to update our records if necessary. Or you can
contact us direct and we will be happy to contact the lender for you. See page 30 for details of how to get in touch
with us.
Cifas information
Cifas (the UK’s Fraud Prevention Service) was developed in consultation with the Office of Fair Trading and the
Office of the Information Commissioner. It aims to detect and prevent fraud and to protect innocent people whose
names, addresses or other details are used fraudulently by others to get goods and services such as credit and
insurance.
A Cifas warning on your report does not mean that you are being accused of fraud, but it does mean a lender will
take extra care and may contact you to make sure that any new application is genuine.
Members of Cifas include the UK’s major financial organisations. A Cifas warning on your report cannot affect your
credit score, but it will mean that lenders will carefully check any application you make.
What should I do if I think Cifas information is incorrectly recorded?
You should contact the organisation who registered the information.
Here is an example of Cifas in a Experian Credit Report:
Your Cifas records
Is this data incorrect?
1 records reported by CIFAS was found
Entry number: F1
Name
Date of birth
Address
Record Details
MR Jonh Smith
Date
DD/MM/YYYY
1 main road,
Member's name
Any t own, 123 ABC
Case reference
Product type
Fraud type
DD/MM/YYYY
C C N TESTING
CCN569435
Company - Mortgage
Victim of Impersonation - Use, by another
person, of this name and/or address
27
Notices of Correction
What is a notice of correction?
A notice of correction is a short explanatory note (up to 200 words) you can add to an entry on your credit report
to explain any circumstances about relating to that information. Anyone searching your report in the future, will see
and take account of the notice of correction.
How can I add a notice of correction to my report?
You can visit Your Credit Report Help Centre at www.experian.co.uk or write to us and provide the text you want
to use (under 200 words). Quote the entry you want us to add the statement to and send it to the address shown
on
page 30. We can’t add a statement that is longer than 200 words or one we think is unjustified, could damage a
person’s or organisation’s reputation, or is unsuitable for some other reason.
Your Experian Credit Score
What is credit scoring?
Many lenders use credit scoring to help them decide whether to offer you credit. They can also use credit scoring
to decide what interest rate to charge you. Credit scoring gives points to the information on your credit report and
to the details you give the lender on your application form. The process is often automated. Lenders then add up
these points and use the total (your credit score) to help them decide whether to offer you credit. In general, a
higher score suggests that you are less likely to experience problems repaying credit.
Different lenders use different ways of working out credit scores. Methods can also differ from product to product.
You should also remember that your credit score will change over time as your financial circumstances change.
Credit scores do not take account of your sex, religion, race or ethnic origin. Your Experian Credit Score is
based only on the information held on your Experian Credit Report. As a result, it will not be the same as any
score a lender works out because they will often use other information, such as the details you give them on
your application form. These might include details of your job and wages, how long you’ve lived at your address,
whether you have a partner and how many children you have.
Lenders cannot refuse to give you credit just because of where you live, unless you live in an area they do not
cover. It is very important that the information you give to a lender is correct. They may view any differences
between the information you give and recorded information as fraud. Your Experian Credit Score is not a guarantee
that lenders will or won’t give you credit. But it can help you to understand how the information on your credit report
influences lenders’ decisions. An Experian Credit Score can range from 0 to 999. A higher score usually means
that lenders are more likely to offer you credit, because they believe there is a lower risk that you won’t be able to
repay it.
Understanding your
Experian Credit Report and Experian Credit Score
28
Excellent
961 - 999
Most lenders would view this score as ‘very low risk’ and would consider that very
few people whose credit reports achieved this score would be likely to experience
serious repayment problems if a credit application was granted.
Good
881 - 960
Most lenders would view this score as ‘low risk’ and would consider that few
people whose credit reports achieved this score would be likely to experience
serious repayment problems if a credit application was granted.
Fair
721 - 880
Most lenders would view this score as ‘moderate risk’ and would consider a low
proportion of people whose credit reports achieved this score would be likely to
experience serious repayment problems if a credit application was granted.
Poor
561 - 720
Most lenders would view this score as ‘high risk’ and would consider that a high
proportion of people whose credit reports achieved this score would be likely to
experience serious repayment problems if a credit application was granted.
Very Poor
0 - 560
Most lenders would view this score as ‘very high risk’ and would consider that
the majority of people whose credit reports achieved this score would be likely to
experience serious repayment problems if a credit application was granted.
Information about other people
There is one other important difference between your Experian Credit Score and a credit score worked out by a
lender – it does not take account of information about any of your financial associates (anyone you are financially
linked to). Your Experian Credit Score is based only on the information in your personal Experian Credit Report.
When deciding whether to grant you credit, a lender may take account of financial information about anyone you
are financially linked to.
29
Improving your Experian Credit Report and your Experian Credit Score
There are a number of things that you can do to improve your chances of getting credit:
• Make sure you are on the electoral roll.
• Make your payments on time. If you cannot do this, contact the lender as soon as possible to discuss
what options are available.
• If you have paid off a credit account but your report doesn’t show this, contact the organisation
concerned and ask them to make the necessary changes. Or contact us and we will contact the
relevant organisation for you.
• Avoid credit repair organisations. If information on your Experian Credit Report.can be removed or
altered, we will do it for free. (The Office of Fair Trading has issued a warning that the advice and
information given by credit repair organisations is often wrong and unhelpful and can even make the
situation worse, not better).
• Always check your credit report. It always makes sense to get a copy of your credit report before you
apply for credit or if you are refused credit as a result of information held by a credit reference agency.
Identity fraud
You can take the following precautions to reduce the risk of your details being used fraudulently.
• Always destroy any rubbish that contains personal information, including cheque stubs, receipts and bank
statements. A shredder can be a wise investment. Never throw anything away with your name and address
on, even an envelope, without shredding it first.
• Never respond to e-mails asking for personal information.
• Never give personal information to people who say they are calling from organisations you have not dealt
with before. If you know the organisation, insist on calling them back.
• If your mail suddenly stops arriving, contact your local post office to make sure that it is not being re-directed.
• Be careful when giving out personal information over the internet – see getsafeonline.org for some useful
advice.
• Visit the Cifas website at identityfraud.org.uk, the Home Office at identitytheft.org for morehelp and
advice. If you believe you have been a victim of fraud, contact the police as quickly as possible to report the
crime. Next, order a copy of your Experian Credit Report and get free help and advice from our Victims of
Fraud team by calling 0344 481 8000.
Make sure you tell us clearly that you are a victim of identity fraud so that we can give you special help. You may
be interested in CreditExpert, our credit monitoring and identity fraud protection service, which offers unlimited
online access to your Experian Credit Report and will tell you about any significant changes to your Experian Credit
Report. There is a 30 day free trial*. For more information, visit https://creditexpert.co.uk
* Monthly fee of £14.99 applies after the 30-day free trial, new customers only. You may cancel your trial during the 30-day trial period
without charge.
Understanding your
Experian Credit Report and Experian Credit Score
30
Contacting Us
Our website (www.experian.co.uk) contains useful information which may answer any questions you still have.
You can also use it to send us any questions you have online. You can also talk to one of our advisers by phoning:
0344 481 0800. The lines are open from 8am to 7pm Monday to Friday.
We welcome calls from Typetalk, the phone service for people with hearing or speech difficulties. We can also
arrange to provide information in large print, in Braille, or on audio tape or CD. You can also write to us at:
Consumer Help Service, Experian Ltd, PO Box 9000, NG80 7WF. We produce a range of guides to help you
understand how credit reports are produced and used, and when they affect your life. You can find these on our
website at www.experian.co.uk/consumer/resources.html
If you are a sole trader or a partnership and want to get a copy of your credit report, please write to us, on your
business letterhead (if any), quoting your report reference number. You must give us your business name and
your business addresses for the past six years, and confirm how long you have owned the business. If you have
stopped trading, include the date your business closed down. Or, you can download a ‘Non- Limited’ application
form from our website at www.experian.co.uk and send it to us at the address below.
Other credit reference agencies may not hold the same information as us. If you want a copy of your credit report
from the other agencies, please contact each of them, enclosing the £2 fee, at the following addresses:
Consumer Services Team
Call credit
PO Box 491
Leeds
LS3 1WZ
Credit File Advice Centre
Equifax plc
PO Box 1140
Bradford
BD1 5US
If you are struggling with repayments, you should always talk to the lender first. Contact details are given in the
view lenders details section of your report. They may be able to agree a different arrangement. You may also find it
helpful to talk to the following agencies for free, confidential advice.
A citizens advice bureau or money advice centre. Visit adviceguide.org.uk or see the phone book for contact
details.
StepChange
phone: 0800 138 1111
web: stepchange.org
National Debtline
phone: 0808 808 4000
web:nationaldebtline.co.uk
Payplan
phone: 0808 280 2816
web: payplan.com
Visit the Office of Fair Trading’s website for information
on your rights about shopping, money and credit.
web: consumerdirect.gov.uk
Get help with financial planning, credit and debt from
The Money Advice Service.
web: moneyadviceservice.org.uk
31
Your Rights
Plain English Campaign’s Crystal Mark does not apply to the following text. Schedule 1 Regulation 4 (1) Credit
reference agency files individuals (including sole traders). Your rights under Section 159 of the Consumer Credit
Act 1974 and under the Data Protection Act 1998, if you think any entry on your report is wrong. This statement of
your rights is provided by Experian Ltd together with all the information we hold about you on our files.
Your rights are as follows: If you think that any of the information we have sent you is wrong and that you are likely
to suffer because it is wrong, you can ask us to correct it or remove it from our file. You need to write to us telling
us what you want us to do. You should explain why you think the information is wrong. If you write to us, we have
to reply in writing within 28 days. Our reply will tell you whether we have corrected the information, removed it from
our file or done nothing. If we tell you that we have corrected the information, you will get a copy of the entry. If our
reply states that we have done nothing, or if we fail to reply within 28 days, or if we correct the information but you
are not happy with the correction, you can write your own note of correction and ask for it to be included on our file.
To do this, you will need to write to us within 28 days of receiving our reply. If you did not get a reply from us and
you want the information we sent you to be corrected, you will need to write to us within 8 weeks of the letter you
wrote to us in which you asked us to correct the information or remove it from our file.
Your letter will need to:
Include the note of correction you have written. It must not be more than 200 words long and should give a clear
and accurate explanation of why you think the information is wrong. If the information is factually correct but you
think it creates a misleading impression, your note of correction can explain why.
Ask us to add your note of correction to our file and to include a copy of it whenever we give anyone any of the
information you think is wrong or any information based on it. If we accept your note of correction we will have to
tell you in writing within 28 days that we are going to add it to our file. If we think it would be wrong to add your
note of correction to our file, we have to apply for a ruling from the Information Commissioner’s Office. We will
apply for a ruling if we do not want to include your note of correction because we think it is wrong or because we
think it is defamatory, frivolous or scandalous or unsuitable for publication for some other reason. We can only
refuse to include your note of correction if the Commissioner agrees with us. If we have not written to you within 28
days of receiving your note of correction or if we have written telling you that we are not going to add your note of
correction to our file, you can appeal to the Information Commissioner. If you want to do this, you will have to write
to the following address: Information Commissioner, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9 5AF.
Phone: 01625 545704 Fax: 01625 524510. E-mail: mail@ico.gsi.gov.uk
When you write, you must give the following details:
1. Your full name and address.
2. Details of the information you think is wrong, including why you think it is wrong, why you think you are likely to
suffer because it is wrong and an indication of when you sent us your note of correction.
3. It would be helpful to the Commissioner if you could include a copy of your note of correction. Before deciding
what to do, the Commissioner may ask us for our side of the story and send us a copy of your letter. In return,
you will be sent any comments we make. The Commissioner can make any order he thinks fit when he has
considered your appeal. For example, he can order us to accept your note of correction and add it to our file.
If at any stage we fail to correct or remove wrong information, you can ask the Information Commissioner to
check whether we are meeting the requirements of the Data Protection Act 1998. The Data Protection Act 1998
requires us to take reasonable steps to check the accuracy of personal information.
32
Understanding your
Experian Credit Report and Experian Credit Score
If you think we have failed to correct or remove wrong information about you, you have the right to ask the
Information Commissioner at the above address, to check whether our dealing with your information has met this
requirement. Important note: The various time limits referred to in this statement (mostly 28 days) start with the date
following receipt and end with the day of delivery.
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